NEW YORK, Aug. 22, 2019 /PRNewswire/ -- The global servo
motors and drives market was valued at ~ US$
9 Bn in 2014, and is expected to surpass US$ 12 Bn by the end of 2019. The servo motors
and drives market is expected to grow at a CAGR of ~ 8% between
2019 and 2029, and is estimated to reach a global value of ~
US$ 28 Bn by the end of 2029.
Persistence Market Research released a new market study on the
servo motors and drives market, which includes the global industry
analysis 2014–2018 and forecast 2019–2029. The report studies the
global servo motors and drives market and offers an in-depth
analysis for the next ten years. The report on the global servo
motors and drives market contains vital macroeconomic and forecast
factors that are estimated to drive the growth of the global servo
motors and drives market. The report on the servo motors and drives
market also discusses restraints that are expected to hamper the
global market, along with potential opportunities and latest trends
in the market across the value chain.
Servo Motors and Drives Witnessing Lucrative Opportunities in
Non-traditional Application Areas
By application, the robotics segment is likely to hold a
significant share across the globe due to the unprecedented
developments in the robotics industry and heavy adoption of robotic
techniques in various end-use industries. The printing and
packaging equipment segment will also show a decent share hold over
the market and is set to register a healthy growth over the
forecast period. Moreover, in food & beverages industry, servo
motors and drives are playing a vital role to make accurate
packages of foods or cold drinks. Thus, servo motors and drives
application is not limited to the above mentioned industry but also
these motors are gaining healthy traction in other industries such
as pulp & paper, and textile, among others.
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By technology, the servo motors and drives market is segmented
into single axis servo systems and multi axis servo systems, among
which, the single axis servo systems segment is expected to attract
end users and is likely to witness more traction in the servo
motors and drives market. The reasonable cost and efficient
performance of single axis servo systems is likely to play a
pivotal role for the substantial growth in the market of single
axis servo systems.
By product type, the global servo motors and drives market is
segmented into linear servo motors and rotary servo motors, and
both the segments are projected to have near about equal sales with
linear servo motors gaining a slight edge in terms of market share.
Linear servo motors are manufactured by several manufacturers,
which provides customer liberty to choose a product best fit for
their purpose. Due to this scenario in the market, linear servo
motors have a slightly more sales across the global market.
Moreover, linear servo motors and drives are used for repetitive
operations such as assembly and arrangement on XY table, CNC
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AC Servo Motors & Drives Account for 75% of Total
By motor configuration, the global servo motors and drives
market is segmented into AC servo motors and DC servo motors and to
provide a more specific outlook AC servo motors and drives are
further categorized into industrial type and asynchronous type. On
the other hand, DC servo motors are categorized into brushless DC
motors, separately excited DC motors and permanent magnet DC motor.
On the global perspective, AC servo motors are more likely to be
preferred in the market due to its ability to operate with the AC
current as well as it also pick up frequently light load and heavy
load. Almost 3/4th of the market is estimated to be held by the AC
servo motors and drives across the globe. Meanwhile, synchronous
type AC motors are going to be the top choice of customers among
other offerings of servomotors. In the DC servo motors and drives
market, all the three sub-segments are expected to attract the
target customers in the market.
By rated power capacity, the global servo motors and drives
market is segmented into 400 – 750 W, 750 W – 1 kW, 1 - 5 kW, 5 –
15 kW, 15 – 50 kW, and 50 – 100 kW. The demand for these products
depend on the requirement of end users. Although, the servo motors
and drives 750- 1Kw segment is expected to remain paramount share
holder in the market over the forecast period. However, the demand
for servo motors and drives entirely depends upon its requirement
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By region, the servo motors and drives market has been segmented
into six regions, namely North
America, Latin America,
Europe, East Asia, South
Asia, and Middle East &
Africa. In these regions, The
Europe market is estimated to grow
with a noteworthy share in the global servo motors and drives
market over the stipulated time period. However, East Asia & South Asia regions are estimated to grow with
significant collective share throughout the forecast period.
Moreover, the North America region
is expected to account nearly 10% share in the global servo motors
and drives market owing to the rising awareness of end user towards
accuracy and precision, coupled with the factory automation.
The global servo motors and drives market is characterized as a
fragmented market, owing to the significant presence of
well-established and small scale manufacturers of servo motors and
drives across the globe. For profound analysis, PMR has analyzed
the global market in three categories: Tier-1, Tier-2, and Tier-3.
Here, Tier 1 players are estimated to account for large share in
the global market. Furthermore, increasing number of full-fledged
companies mainly from emerging regions such as in China, are making competitive structure in the
global servo motors & drives market.
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Moreover, renowned players in the global market are adopting
business expansions, acquisitions, collaborations, and product
launch strategies, in a bid to promote substantial growth to the
servomotors and drivers market.
- In April 2019, Siemens AG
launched an enclosed IEC motor for industrial and construction
application, which highlighted the product innovation performance
of the company.
- In June 2019, Mitsubishi Electric
Corporation inaugurated its new office in Boston, U.S. to improve its presence in the
market of North America.
Some of the key players identified across the value chain of the
global servo motors and drives market includes Siemens AG,
Panasonic Corporation, Parker Hannifin Corporation, Nidec Motor
Corporation, Delta Electronics, Inc., Fuji Electric Co., Ltd.,
Hitachi Industrial Equipment Systems Co. Ltd, Mitsubishi Electric
Corporation, Schneider Electric, Rockwell Automation, Inc., ABB,
Applied Motion Products, Inc. Altra Industrial Motion Corp.,
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